Segment information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment information

The Company reports results under one segment, referred to as the “underwriting segment.” The underwriting segment captures the results of the Company’s underwriting lines of business, which are comprised of specialty products on a worldwide basis. Lines of business include: (i) casualty reinsurance; (ii) property catastrophe reinsurance; (iii) other specialty reinsurance; and (iv) insurance programs and coinsurance.

The accounting policies of the underwriting segment are the same as those used for the preparation of the Company’s consolidated financial statements.

The Company has a corporate function that includes certain general and administrative expenses related to corporate activities, interest expense (on its 6.5% senior notes due July 2, 2029), net foreign exchange gains (losses), income tax expense and items related to the Company’s preference shares.

The following table provides summary information regarding premiums written and earned by line of business and net premiums written by underwriting location:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
	($ in thousands)
Gross premiums written:
Casualty reinsurance	$	25,125	$	32,557	$	108,943	$	108,158
Other specialty reinsurance	21,080		37,836		57,960		62,134
Property catastrophe reinsurance	11,253		5,929		21,085		11,921
Insurance programs and coinsurance	100,469		85,656		204,841		166,454
Total	$	157,927	$	161,978	$	392,829	$	348,667
Net premiums written:
Casualty reinsurance	$	24,774	$	32,077	$	108,441	$	107,142
Other specialty reinsurance	19,843		36,523		55,327		59,705
Property catastrophe reinsurance	10,506		5,621		20,338		11,603
Insurance programs and coinsurance	50,733		45,149		108,450		86,307
Total	$	105,856	$	119,370	$	292,556	$	264,757
Net premiums earned:
Casualty reinsurance	$	48,146	$	67,506	$	100,911	$	130,819
Other specialty reinsurance	29,876		42,635		65,240		87,196
Property catastrophe reinsurance	5,824		3,119		10,708		6,090
Insurance programs and coinsurance	47,689		38,058		94,715		73,307
Total	$	131,535	$	151,318	$	271,574	$	297,412
Net premiums written by underwriting location:
United States	$	27,798	$	22,385	$	64,101	$	40,787
Europe	22,921		23,927		44,124		47,185
Bermuda	55,137		73,058		184,331		176,785
Total	$	105,856	$	119,370	$	292,556	$	264,757